VGP Invests €25M in a New Logistics Park (80,000 m2) in Madrid

25 July 2018 – Eje Prime

VGP is going to build a new logistics park in the south of Madrid. The investment group is going to spend €25 million on the development of a macro-project on a plot of land measuring 80,000 m2 in Fuenlabrada. The buildability of the plot is 50,000 m2, according to reports by the company.

The logistics company has acquired a plot on the Callfersa Industrial Estate to expand the supply in the second ring of Madrid. In Fuenlabrada, there is currently 81,000 m2 of industrial surface area, which is fully occupied. Therefore, VGP’s operation, which has been advised by JLL, will double the stock of logistics land in the town.

VGP’s investment “will provide a solution to the lack of supply in the second ring of Madrid”, explains Pere Morcillo, Director of the Industrial and Logistics Area at JLL, who warns that companies “were finding hardly any available space in the area, especially if you take into account that VGP’s project is the only development that is planned in the area”.

During 2017, 800,253 m2 of logistics space was leased in Madrid; and this year, 850,000 m2 of logistics space is expected to be leased, according to data from CBRE. That firm highlights the areas around the A-2, A-1, A-4 and A-42 motorways as those with the most space to let.

Original story: Eje Prime

Translation: Carmel Drake

Costa Bellver Starts Work on its 1,000-Home Macro-Project in Oropesa

10 July 2018 – Eje Prime

The starting gun has been fired on the Calabuig family’s project in Oropesa del Mar (Castellón). The Valencian businessman Eugenio Calabuig (pictured below) has requested the first building permit for the construction of the first 56 homes in the macro-project comprising 1,000 homes in total and one hotel that his company, Costa Bellver, is planning to build in the seaside town.

The first occupancy licence is being processed, as it awaits the green light from the Town Hall. In Torre Bellver, close to Les Platgetes de Bellver, the Calabuig family are looking to increase the prime residential market, according to València Plaza.

Not in vain, Costa Bellver is keen to attract a new kind of buyer with a high purchasing power. In addition to the 1,000 homes, the company is going to build a luxury hotel to accommodate the large number of tourists who visit the area during the holiday period.

Original story: Eje Prime 

Translation: Carmel Drake